How I Save 60% of My Income

[@iestooo]

nice tips mate. In January I set myself a goal to save a set dollar amount by the end of the year and it has by far been the best strategy to saving I've tried so far because I know exactly how much I need to save every fortnight to hit that goal. I also track my progress using a spreadsheet. Breaking down big goals into small chunks like that is literally the biggest life hack you can give anyone, it's how everything gets done in life!

[@InvestingwithTom]

couldn't have said it better myself

[@InvestorCenter]

“A penny saved is a penny earned”

[@InvestingwithTom]

The Investor Center - Learn Finance & Investing yessir

[@ncaastar340]

2 pennies saved is 3 pennies earned. The reason being taxes.

[@rammachiraju]

As usual, great content. It'd even better if you can show the tips as bullet points on the side of the screen when you finish covering them. It'll be easier to keep track of the content and motivates audience to complete the video.

[@Fightermanfeta]

Is there a percentage on your pay yourself first?

[@EasyClocked]

First of all, great video as always! Second, love that shirt, I have a few mates from matamata so it is an on going joke asking them "what's the matamata?" Third, my main tip for people looking to save is give every dollar a home. Don't just budget your expenses and then leave the left overs in limbo otherwise you will always spend it. Instead, budget an amount to go into savings each pay and an amount you are allowed to spend so every dollar has a home. And lastly, an extra tip I like to do is create a splurge account and try to have like 1000 or 2000 dollars just sitting in there. This gives you the freedom of spontaneity and you still won't touch your savings or emergency fund. If you ever dip into it, then always try to reimburse what you spent over your next couple pays so you always have it sitting there ready. Sorry for the long comment... Keep up the good work Tom!!

[@InvestingwithTom]

TheRealCuzin great tips! Thanks for watching and I don’t think that joke will ever go away 😂

[@InvestingwithTom]

What’s your top $ saving advice?

[@Mihir.Bhadauria]

Paying yourself first is a concept I never understood but after this it made sense. I basically split my salary and leave a small percentage as discretionary. I use my own buckets which is inspired from the barefoot investor

[@InvestingwithTom]

Australian Financial Literacy nice work! I’ve steered away from %’s personally, but it works 🙂

[@SHANONisRegenerate]

Grow your own food and if you spend money buy investments

[@InvestingwithTom]

NZ Suburban Fruit & Vegetable nice! Need to do more of that

[@SHANONisRegenerate]

Investing with Tom after the lockdown grab yourself a packet of sugar snap pea seeds. They grow really vigorously with bugger all care and you and your partner will be rewarded with lots of fresh tasty peas and pods to snack on.

[@tokohawe77]

Nice bro. The shirts a crack up lol

[@MRZEROTOINFINITY]

Investing with Tom, I didn’t know you INVEST! Haha. 60%, that’s awesome 👏 It’s not all about how much you earn, it’s all about how much you SAVE and INVEST 🚀📈 Always pay yourself first. Totally agree with that!

[@InvestingwithTom]

MICHAEL DERISO - 0 to Infinity 😂 who’d have thought

[@KiwiClipsKing]

Loving your videos mate, subscribed

[@rebeccac2358]

Thanks for the saving tips. I'm also in New Zealand and started investing about a month ago. Always looking at more ways to save especially at this time to have more money to put towards my savings/investing 🙂

[@InvestingwithTom]

rebecca c great to hear and happy to help!

[@kalishabrown5381]

Awesome content👌💯 thanks for the tips! Keep up the awesome work dude 💪

[@InvestingwithTom]

Kalisha Brown thanks!

[@craiggradon7720]

Some good tips there Tom, its a great time to be looking at one's expenses and savings habits

[@InvestingwithTom]

Craig Gradon agreed 🙂

[@InvestWithQueenie]

100% agree! Saving money is the fastest way to financial freedom in my opinion! It’s way easier to save money than it is to make more money 🙏 keep up the great work 🙌

[@InvestingwithTom]

Queenie Tan it definitely speeds things up! Unfortunately we can only pull that lever so far before we’ve got to get more cash coming in too

[@dindiharsha6901]

Tell me your lift numbers?

[@chiragdarji1571]

Thanks for the videos mate. I started watching your videos last week, having watching aussiewealth channel and hamish hodder's channel, and you came up on the suggestion list; It never occurred to me you were in NZ until this video! lol. Have you done a video on stock analysis listed on the NZX? Perhaps giving some insights on how the growth rates maybe impacted on the current economic situation. Maybe Kathamandu as an example, and how the uncertainty plays out when considering purchasing NZX stock. Or dollar cost averaging on FNZ etf.. Thanks :)

[@pfnz]

My savings rate is about 85% at the moment but that is not sustainable since I basically have no fixed expenses (I don't have a fixed income either but still).

[@gulsimzhamanbay2073]

Very informative tips. Thank you :)

[@L2daA123]

Hey Tom have you thought of sharing your portfolio, great vids as always👍🏼

[@InvestingwithTom]

lloyd atkinson I have! But have chosen not to at this stage, mainly because I don’t want people copying me

[@Shubhamasija913]

Hey Tom, from Hamilton as well. came across your channel couple of weeks ago and it's really helping me with my goal. Still at an early stage of learning and hopefully I will be able to become a successful investor one day. Would love to catch up sometime. Cheers mate.

[@InvestWithQueenie]

Great video well done ✨

[@InvestingwithTom]

Queenie Tan thanks for watching 🙂

[@jadepenn7407]

Awesome bro! Didn’t know you were from h town ha. I’m living in raglan, moved from Chch. Where are you in nz now?

[@InvestingwithTom]

Jade Penn birthplace is on the shirt 😂 but in Hamilton now

[@jadepenn7407]

Investing with Tom ha this guy. Made me go watch the vid again to see the tee. Crafty eh! Would be cool to catch up one day share ideas. Keep up the vids my wife and I watch em all

[@InvestingwithTom]

Jade Penn glad to hear! Definitely keen to do a meet up at some point

[@camkay8855]

Congratulations Tom I see you cracked 6k 👍

[@InvestingwithTom]

thanks mate, we seem to be compounding pretty quickly!

[@Mrluckyjo]

Tom, you could clickbait us anyday.... following the hell outta ya!!

[@unimpressedsquidward3059]

Would you recommend putting a percentage of monthly savings into some well established US ETF? Will that be considered as savings?

[@InvestingwithTom]

Deivan Kumar I’d consider that savings, sure. Personally I keep putting the cash away, and then when I find investment opportunities that’s where I’m pulling money from

[@mcampbellkane2453]

Really great information..love your explanations, clear, informative, interesting and entertaining. Love the real, down to earth kiwi style and appreciate your information..cheers.

[@InvestingwithTom]

MCampbellKane glad to help. Thanks for watching 🙂

[@beachnz8117]

Morning Tom !! Valuable information. 👍Also I like ur #T Shirt #

[@InvestingwithTom]

Daman Singh thanks! And it’s an old favourite 😂

[@josezamora5908]

Very good video.

[@InvestingwithTom]

Thanks 🙂

[@CarbonMatrixify]

How much do you make? I'm on minimum wage and saving upwards of 70%. Difficult but do-able on 60-72 hrs

[@InvestingwithTom]

wow, you're a machine! Well done. I'm above the NZ avg., but nothing crazy and 40hrs/wk

[@Mihir.Bhadauria]

Keeping up with the Joneses is the biggest waste of time and money. Too many people buy things they don't like to impress people they don't like. I have seen people with expensive cars which they never drive or worse they get into things like car loans 😠 and try to spend above their means and get into more trouble. It's a habit loop

[@InvestingwithTom]

Australian Financial Literacy I agree!

[@tradingmelon1470]

Hey guys would love some stock recommendations !

[@tomcastro8805]

BLIS tech

[@AndroidAndPCChannel]

@@tomcastro8805 it share price hasnt increased well over the 5 years , why you recommend that company?

[@ncaastar340]

t.co/HAUNXQVdTa copy great investors

[@satisfyinglook8291]

what do you have a degree in?

[@InvestingwithTom]

Enlightened Investing agricultural science 🙂

[@satisfyinglook8291]

Investing with Tom oh cool, you must be invested in CAT.

[@InvestingwithTom]

Enlightened Investing I’m not! But things more like fertiliser, farms, milk companies, even aquaculture to a certain extent, all right down my alley

[@satisfyinglook8291]

Investing with Tom oh cool, I don’t understand the agricultural business. I understand the tech business/finance business

[@InvestingwithTom]

Enlightened Investing that’s all you need! As long as you’ve got an edge in something you’ll do well

[@jcjpetherick]

Awesome content mate, been watching a few of your videos. Hope all is well #DCFTB

[@InvestingwithTom]

James Petherick jimmy! Hope you’ve been well mate 💚

[@agusary234]

Save 60% of income absolutely not for every individual.

[@InvestingwithTom]

AgusAry 23 I agree. Nonetheless the principles apply at most income levels 🙂

[@investorgreats]

What is fortnitely? And what job do you have? Ok, ones in 14 days.

[@supernom]

FIRSt1!!!

[@Mihir.Bhadauria]

Second haha

[@InvestingwithTom]

supernom third?

[@supernom]

@@InvestingwithTom keep trying mate you might get first one day😂😂

[@InvestingwithTom]

@@supernom can only try!

[@thomaswagner2707]

Hey mate, what are the 3 best ETF's to invest in new zealand for diversification and growth? cool video by the way

[@KavindhyaJayakody]

If you want to save data stop watching useless videos like this 😉

[@InvestingwithTom]

nice comment to start the morning haha

[@KavindhyaJayakody]

@@InvestingwithTom , just kidding 👍

[@69rkids]

All the boys were about to drop in, in the hundreds 🤺🤺🤺

[@InvestingwithTom]

Oli Brunton 😂😂